Payout Executive

2 weeks ago

Mumbai Maharashtra, India Be Wealthy Full time

our Company BeWealthy helps 1800+ retail clients and 16 corporates with their insurance needs, managing assets exceeding 28 crores in western India. With a dedicated team of 27, we earned the 2022 IRDA Corporate Agency recognition. Come, be part of the team that is building a comprehensive distribution channel for Life, Health, and Non-Life insurance solutions. A Fast-Growing Company Making an Impact A Great Workplace Equal Opportunity Employer

**Payout Executive**:
**Location**:
Mumbai

**Experience**:
1-5 years

**Job Description**:
**Responsibilities**:

- Manage and oversee all payout processes within the organization.
- Calculation of Rewards and Recognition
- Maintain accurate records of all financial transactions and payouts, ensuring data integrity and compliance with auditing standards
- Analyse payout structures to ensure fairness, competitiveness, and alignment with company goals
- Identify opportunities for process improvement and cost optimization related to payouts.
- Collaborate with the sales and partnership teams to calculate and process payouts to channel partners and distributors.
- Maintain accurate records of channel partner agreements and payout terms.
- Address any payout-related queries and disputes from channel partners on time.
- Coordinate with various departments to establish and maintain a payout schedule for tie-up agreements and contracts.
- Prepare and submit reports on payout activities to management and regulatory authorities as required.
- Communicate payout changes and updates effectively to stakeholders.

**Qualifications and Education**:

- Previous experience in insurance operations, administration, or a similar role is an advantage
- Graduation or any other relevant degree or certification
- Advanced Excel and basic statistics

**Essential Attributes / Soft skills**:

- Ownership
- Communication
- Ability to work independently
- Team player
- Logical Thinking
- Problem-Solving
- Process Orientation
- Self-Starter

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